Stock picks for October 10, 2012

Posted By:
Subscribe to GoodReturns

Stock picks for October 10, 2012
Here are a few stock ideas from leading brokerage houses in the country.

Hero Motocorp

Rahul Mohindar, viratechindia.com advice traders to buy Hero Motocorp around Rs 1750-1800.

Mohindar told CNBC-TV18, "Hard to take fresh short positions particularly when you look at the big ones like Hero Motocorp. I think there one very big issue is with that very strong support Rs 1750-1800 historically over the last six-seven months we have seen that level holding so good. It is a level, which has always attracted the investor and people have come in and bought. I think that again is probably bound to happen. We do not see very sharp inclines in volumes where this dip is happening."

Ranbaxy Labs

Rahul Mohindar, viratechindia.com advice traders to buy Ranbaxy Labs around Rs 540.

Mohindar told CNBC-TV18, " L&T is a good buy for another Rs 70-80 if you are looking at it short-term. But when we look at sector wise one sector which is again starting to look little interesting is something like pharma."

He further added, "If one looks at Ranbaxy, one should look at buying the stock if it breaks out above Rs 540 so subject to that I think we would really get a good run up may be towards Rs 580-590 on the stock. So that's a level I would look at Ranbaxy, so Rs 540. The other one which one could really look at in terms of a long position would be Reliance. The stock has done a bit of correction in the short-term and I think it is probably good for more. So that frontline support will definitely come in from here. Don't see greater than an Rs 15-20 risk on the immediate downside."

L&T

SP Tulsian, sptulsian.com advice traders to buy L&T around Rs 1550-1560.

Tulsian told CNBC-TV18, "I won't buy L&T or BHEL because if you really take a call on the cap goods results, I don't think that things will really be too good for this September quarter."

Mahindra Holidays

Prabhudas Lilladher is bullish on Mahindra Holidays and Resorts India  and has recommended buy rating on the stock with a target price of Rs 366 in its October 9, 2012 research report.

"Mahindra Holidays & Resorts India (MHRL), a part of the US$14.4bn Mahindra Group, is a leading leisure hospitality provider in the country, with 42 resorts across 35 diversified locations. Being the largest within the timeshare industry in India, with a member base of 147K, it provides quality holidays through the vacation ownership model - a significantly under-penetrated model in India. MHRL has nearly doubled its room capacity to 2049 in the FY09-12 period, with 425 rooms added in FY12 and a target of 700 in FY13. Besides increasing availability to the existing members, the plan is to aggressively increase its member base which stands at ~143K as of March 2012. Members have increased at 15.6% CAGR over FY09-12 which is expected to increase to 16.7% between FY12-14."

GoodReturns.in

DISCLAIMER: GoodReturns provides you with information covering shares, futures and options based on broker's reports as stated on various media. Investors are, however, warned that they should NOT take any buy or sell decision based on these views expressed in the article. Investors should consult their own financial and share advisors before taking purchase or sale decisions. GoodReturns does not take any responsibility for any losses incurred by investors who take their cues from the above article.

Read more about: stock picks
Story first published: Wednesday, October 10, 2012, 8:51 [IST]
Please Wait while comments are loading...
Company Search
Enter the first few characters of the company's name or the NSE symbol or BSE code and click 'Go'

Thousands of Goodreturn readers receive our evening newsletter.
Have you subscribed?